Fiduciary Activities

Forms and Documents

Document	Type	Status	Availability
1557-0140 STIF Final Rule - October 9 2012.docx	Supporting Statement A	Uploaded 2012-10-09	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
20039	Fiduciary Activities	Other-Monthly STIF Disclosure Template	Modified

ICR Details

OMB Control No: 1557-0140	ICR Reference No: 201208-1557-003
Status: Historical Active	Previous ICR Reference No: 201202-1557-004
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: Fiduciary Activities
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 02/14/2013
	Date Received in OIRA: 10/09/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2016	36 Months From Approved	11/30/2014
Responses	451,583	0	451,583
Time Burden (Hours)	112,293	0	83,529
Cost Burden (Dollars)	0	0	0

---

Abstract: The information collection requirements are found in 12 CFR Part 9. Part 9 requires institutions with fiduciary powers to retain fiduciary records and to note results of fiduciary activities annually in the minutes of the board of directors. It also requires institutions to file certified copies of board resolutions in order to surrender fiduciary activities, to operate a collective investment fund pursuant to a written plan, to submit the written plan to the OCC for approval, and to make their annual financial report for collective investment funds available to fund participants. These requirements ensure safety and soundness in fiduciary activities. Currently, the OCC is seeking to amend this collection to include new burden contained in a final rule concerning short-term investment funds.

---

Authorizing Statute(s): US Code: 12 USC 92a Name of Law: The National Bank Act
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1557-AD37	Final or interim final rulemaking	77 FR 61229	10/09/2012

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Fiduciary Activities	N/A	Monthly Schedule of Portfolio Holdings of Short-Term Investment Funds

---

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	451,583	451,583	0	0	0	0
Annual Time Burden (Hours)	112,293	83,529	0	28,764	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The increase in burden is due to the addition of short-term investment fund requirements.

---

Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

---

Common Form ICR:  No

---

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 10/09/2012

---